Packaging Your Services: Create Multiple Streams of Small Business Income
by Maria Marsala
Summary:One of the ways you - as an owner of service businesses - can increase your profits is to create multiple streams of small business income.
And the place to start is by designing informational products.
One of the ways you - as an owner of a service based business - can increase your profits is to create multiple streams of small business income. And the place to start is by designing informational products. The products could be based on your knowledge - things like CDs, e-books, booklets, TeleSeminars, and articles. You know -- these are the very things you've been watching me develop over the years. And if you're a US resident who has taken one of my TeleSeminars, you may have received one of my "test" CDs in the mail! They include an ebook and audio of the class. And you can create such products, too.
Another way to boost your income is to develop products that will help your ideal clients. And it's easier then you think IF you really, really, really listen well to your clients. For example, my clients complained that they had lots of ideas and that I was giving them even more! Many of their ideas were written on many bits of paper. (Can you relate?)
What I heard them say was that they wanted a SIMPLE way to organize their ideas for future use that did not include rewriting (or retyping them) in a software program. So, I created SIMPLE IDEAS Folders - a set of 6 folders that list what ideas should go into them and they spell out the word SIMPLE. Now, my clients all have these folders and I sell them at events in the back of the room for $8 when I speak. Besides being inexpensive and SIMPLE, each of the 6 folders has my web site on them, so they're a great marketing tool.
Below is a list of possible products you might create. It's an excerpt from the Packaging Your Services Chapter of my workbook, "Pricing Your Services 'Just Right." You can read more about how you can obtain a copy of the workbook and audios here.
- Offer a variety of packages - different products, different services, different lengths of time (if applicable). Want to view an example of pricing packages? Visit http://www.coachmaria.com/programs.html.
- Many business owners place a pricing structure on their websites. Using the industry name, plus the word "rate" or "fees" or "quote," you can find those sites on the Internet.
- Always consider the client and customer service when pricing your services, too. If what you sell requires training for your customers, you can offer a block of training hours included in the initial price, with additional training charged separately at an hourly rate of ___. The training hours can be in person, over the phone, or via email.
- Some people do advertise their prices; others don't. Some people charge by the hour; others charge by the project (which is perceived to be more professional).
- If you list your prices - be specific. List what is included, for how many hours and/or for how many people. You might want to include a form for potential clients to complete so prices can be calculated.
- Consider charging a licensing fee. When you create a document for use by your clients, it might be a product they want to share with their clients. If so, create a licensing fee policy for that document, ebook, ereport, program, etc.
© 2012 Elevating Your Business. An unstoppable entrepreneur, Maria Marsala is a business strategist, financial advisor coach, speaker, and author. Her clients are independent accounting, financial, and insurance advisors. She guides them to increase their productivity and profits, growing their businesses to serve their lives — not the other way around. Download her free Business Evaluator to quickly learn which areas of your business are screaming for your immediate attention and which areas deserve a big hurrah! Visit www.ElevatingYourBusiness.com
Did you like this article?
Many people have told me that I "give away too much good information for free" That is my intention. By creating great free resources, we hope that a lot of links would follow. If you'd like to repay me for the information you've just learned, link the article to your blog, retweet it, or send it to your Linkedin groups are all great ways to repay me. Thanks in advance!
WANT TO USE THIS ARTICLE DURING A BUSINESS ENGAGEMENT?
You cannot use our articles with your clients without a license agreement. Contact Maria
Testimonial
"Maria isn't known as the Resource Queen for nothing - she knows everything there is to know about running a business successfully and where to go to find the tools and services to do it. Maria's advice and strategy has been invaluable to the clarification and execution of my business goals."
--Nicole Wexler, Decorator & Stager, Turquoise Decor, Seattle, WA, http://www.TurquoiseDecor.com
Connect with EYB
|
|
|
|
 |
 |
||
 |
|||